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Real Estate
Reply to "New Commission -3%"
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[quote=Anonymous][quote=Anonymous]The new deal…whatever it will be….. will reduce the number of realtors substantially. For many it is part time work with little expertise needed so if you sold a few houses a year you could make decent money. What will be interesting is if someone comes up with a new model that really revolutionizes the industry the way internet travel sites disrupted the travel agent business. [/quote] Yes, completely agree. I recall a Shark Tank episode several years ago where someone had developed an app that allowed a prospective home buyer to come across a home for sale and, using the app, unlock the lockbox and tour the home without the buyers agent physically there. Barbara (who is a realtor) was dead set against it. I don't think it got a deal. But that's an example of innovation that was stymied because real estate agents wanted to make sure buyers agents weren't being cut out. It's going to be really cool to see how AI and automation change this up. [/quote]
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